Just a note to record progress on Greek interest rates, since at the end of last week I noted they were having to pay over 10% on their 2 year bonds, and I was asking what will happen this week -- would they be paying 12% on Monday, or even not being able to sell them at any price by the end of the week? Here
Today the 2 year bond rate went over 17% according to Bloomberg (and in fact went on after the Bloomberg article to top 18%). So I was too conservative so far with the suggestion they might be paying 12% on Monday -- it's Tuesday, and it did come to pass and worse besides. I sincerely hope my other question, whether they might find they cannot sell their bonds at any price by the end of this week, doesn't come back in the affirmative...
Again, are you a better credit risk than the Greek government? Or for that matter, is even your government a much better credit risk than them?
Let's be careful out there.
Tuesday, 27 April 2010
Greek interest rate update
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